Savings Account Tips For Students
If you are headed off to college, one of the most important things you should do is open a savings account. Doing so will help you in your biggest financial requirements. Let’s take a look at some of the benefits of savings accounts for students as listed out by the experts as well as see some of the best banks to open a savings account. The benefits of savings accounts for students are as follows. Keeps money safe If you share your room with other fellow students, you might want to think of ways in which you can keep your money safe. Keeping cash in the cupboard is not an advisable option. The best thing you can do is to keep your money in a savings account. Not only is it safe from any burglary but it is also covered by the Federal Deposit Insurance Corporation (FDIC) for banks and the National Credit Union Administration (NCUA) for credit unions. Provides links to a checking account As a student, you would probably make your regular financial transactions from your checking account. You might also run out of funds at times. Keeping a savings account on the side allows you to always have a place to save up money safely without the temptation of spending it.